Moscow Gov't To Issue Eurobonds Worth 400M Euro

The government of Moscow decided to place Eurobonds worth 400m euro until the end of this year, Deputy Mayor of Moscow Iosif Orjonikidze announced to journalists today. According to him, Moscow officials have already began negotiations with investors to specify the parameters of this loan. Particularly it is necessary to determine the term of Eurobond placing. Orjonikidze also said that the Moscow government hoped to redeem these Eurobonds in 4 or 5 years. Moscow authorities are not planning to launch a large-scale presentation of its borrowing plans as in 1997. "We have a stable reputation, we do not need to be advertised. We hope that regular meetings with investors will be enough," he added.